They want our bonds! We want their savings!
Consider this a helpful factoid from the second quarter US International Transactions data. Sorry, no USA Today-like graphics.
Net purchases by foreigners, 2004:IIDo not accustom yourself to consider debt only as an inconvenience. You will find it a calamity.
Stocks -- $2.0bn
Direct capital investment -- $32.7bn
Corporate bonds -- $51.5bn
Federal agency bonds (private) -- $35.1bn
Federal agency bonds (govt) -- $2.8bn
US treasuries (private) -- $40.3bn
US treasuries (govt) -- $63.0bn
- Samuel Johnson